For personal use only - beaconminerals.com.au · BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie...

BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie Office 144 Vivian Street, Boulder, WA 6432 Registered Office Level 1, 115 Cambridge Street, PO Box 1305, West Leederville, WA 6007 Website www.beaconminerals.comPhone 08 9322 6600 Facsimile 08 9322 6610

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ASX ANNOUNCEMENT

31 January 2017

SUCCESSFUL STAGE 1 DRILLING PROGRAMME COMPLETED AT JAURDI

Highlights

Assay Results received from RC drilling at Jaurdi include

JD17C10: 11 metres at 10.17 g/t Au from 9 metres









• The mineralised palaeochannel is open to the East and to the North West

400 metres of strike identified in Eastern Arm of palaeochannel as a result of Stage 1

drilling programme

Average width of mineralisation in the Eastern Arm is 180 metres

Average thickness of the Eastern Arm mineralisation is 10 metres

Average depth from surface to the upper horizon of the gold bearing palaeochannel is

8 metres

Beacon Minerals Limited (“Beacon” or the “Company”) is pleased to announce that the Stage 1 drilling

programme has been successfully completed at the Jaurdi Gold Project, located 35 Km north west of

Coolgardie in Western Australia. As announced on 3 January 2017 Beacon executed an exclusive

option to purchase the Jaurdi Gold Project (Figure 1) comprising Mining Lease M16/529 (ML) from

Fenton and Martin Mining Developments Pty Ltd (Fenton and Martin).

Beacon has completed 78 holes for 2,330 metres as part of their Stage 1 drilling programme which was designed to test the Eastern Arm of the Jaurdi gold system. The programme was highly successful with 52 of the 78 holes intersecting significant intervals of gold mineralisation at an average depth of 8 metres below surface. The Stage 1 drilling results extend the known position of mineralisation within the Eastern Arm of the Jaurdi gold system to both the North and the East. The system remains open to both the East and West ‐ North West.

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Figure 1: Locality of Jaurdi Gold Project relative to major gold deposits

in the Kalgoorlie‐Coolgardie district Drilling was completed using a combination of Aircore (44 holes for 1,313 metres) and Reverse Circulation (34 holes for 1,017 metres) drilling techniques, the latter being employed to effectively drill through a silicified siltstone. A 25m x 50m pattern was drilled with all holes being vertical. Holes were drilled between 21 and 35 metres in depth (Figures 2 to 4). All hole collars have been surveyed using a DGPS and down hole surveying was undertaken using an open hole north seeking gyroscope. The gold mineralisation is hosted in either a bleached, siliceous siltstone or an interbedded clay and

siltstone unit. The average thickness of the mineralised system in the Eastern Arm of the Jaurdi

palaeochannel is 10 metres, the average width is 180 metres and the identified strike length is 400

metres, being open to both the East and West of this arm. It appears the course of the palaeochannel

system mimics the contemporary drainage system.

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Figure 2: Location plan showing the collar position of the 2017 Stage 1 drill holes

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Figure 3: Long section A – A’ through Eastern Arm of the Jaurdi gold system showing depth of palaeochannel mineralisation

Figure 4: Cross section B – B’ through Eastern Arm of the Jaurdi gold system showing depth of palaeochannel mineralisation

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A second stage of drilling, of approximately 2,000 metres, has been designed by Beacon and will

commence on 1 February 2017 using the Kalgoorlie based contractor Ausdrill. The aim of this

programme is to extend the known occurrence of the Eastern Arm mineralisation both to the East and

North West, by joining up with the historically understood Western Arm orebody and to further

extend the Eastern Arm mineralisation to the East.

Table 1 shows the results of the Beacon January 2017 Stage 1 drilling programme and Table 2 shows

a suite of significant intersections from a number of historical drill holes which were completed in

three phases of drilling between 2007 and 2015.

Table 1: Table of drill intercepts from the January 2017 Jaurdi drilling programme

Hole_id Hole_Type MGA_Grid_ID MGA_East MGA_North MGA_RL From (m)

To (m)

Interval (m)

Au g/t Au

Depth (m)

JD17C01 RC MGA94_51 303162.059 6598486.348 382.597 8 13 5 1.05

18 20 2 3.32 30

JD17C01A AC MGA94_51 303162.364 6598489.108 382.484 12 15 3 0.95

17 19 2 1.03 30

JD17C02 RC MGA94_51 303185.464 6598487.161 382.322 NSI 23

JD17C02A AC MGA94_51 303186.455 6598486.932 382.303 8 15 7 0.81

21 22 1 1.37 30

JD17C03 AC MGA94_51 303210.192 6598486.079 382.001 12 13 1 2.57

18 22 4 7.45 30

JD17C04 AC MGA94_51 303235.492 6598485.309 381.992 17 21 4 1.43 30

JD17C05 AC MGA94_51 303262.683 6598484.219 381.692 16 20 4 0.73 30

JD17C06 AC MGA94_51 303286.377 6598483.342 381.619 NSI 30

JD17C07 AC MGA94_51 303312.77 6598485.182 381.508 NSI 30

JD17C08 AC MGA94_51 303335.92 6598486.055 381.42 14 18 4 1.15 21

JD17C08A AC MGA94_51 303335.877 6598482.384 381.373 11 18 7 1.39 30

JD17C09 AC MGA94_51 303360.435 6598485.779 381.306 12 19 7 1.38 24

JD17C09A AC MGA94_51 303361.677 6598482.177 381.271 10 20 10 1.52 30

JD17C10 AC MGA94_51 303362.346 6598433.467 381.748 9 20 11 10.17 30

JD17C11 AC MGA94_51 303335.975 6598435.512 381.906 9 21 12 2.83 30

JD17C12 AC MGA94_51 303312.713 6598433.83 382.041 10 18 8 1.37 30

JD17C13 AC MGA94_51 303285.288 6598434.244 382.045 9 24 15 1.95 30

JD17C14 AC MGA94_51 303271.169 6598420.054 382.269 9 20 11 2.35 30

JD17C15 AC MGA94_51 303212.983 6598436.849 382.797 7 21 14 2.91 30

JD17C16 AC MGA94_51 303187.171 6598434.317 383.079 7 18 11 1.44 30

JD17C17 AC MGA94_51 303161.603 6598436.609 383.173 6 22 16 1.95 30

JD17C18 RC MGA94_51 303161.447 6598384.969 383.456 9 13 4 1.95 30

JD17C19 RC MGA94_51 303181.756 6598381.91 383.506 7 21 14 3.33 30

JD17C20 RC MGA94_51 303213.225 6598382.091 383.202 7 15 8 1.16 30

JD17C21 RC MGA94_51 303293.71 6598388.246 382.679 6 19 13 2.48 30

JD17C22 RC MGA94_51 303321.221 6598385.57 382.701 8 17 9 1.20 30

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JD17C23 RC MGA94_51 303341.027 6598384.061 382.55 6 16 10 1.53 30

JD17C24 RC MGA94_51 303366.109 6598380.858 382.796 7 9 2 2.24

15 17 2 1.05 30

JD17C25 RC MGA94_51 303368.732 6598334.607 383.199 10 12 2 0.81 30

JD17C26 RC MGA94_51 303343.038 6598332.337 383.059 13 14 1 1.03 30

JD17C27 RC MGA94_51 303317.677 6598328.544 383.193 NSI 27

JD17C28 RC MGA94_51 303290.252 6598328.099 383.2 NSI 30

JD17C29 RC MGA94_51 303247.294 6598350.06 383.107 11 16 5 2.66 30

JD17C30 RC MGA94_51 303129.323 6598340.158 384.675 8 13 5 0.94 30

JD17C31 RC MGA94_51 303111.558 6598533.672 382.381 NSI 30

JD17C32 AC MGA94_51 303137.835 6598537.45 382.299 NSI 30

JD17C33 AC MGA94_51 303162.482 6598537.147 382.173 NSI 30

JD17C34 AC MGA94_51 303184.562 6598537.459 381.996 NSI 30

JD17C35 AC MGA94_51 303209.792 6598539.044 381.89 NSI 30

JD17C36 AC MGA94_51 303240.671 6598535.386 381.82 NSI 30

JD17C37 AC MGA94_51 303266.38 6598530.439 381.73 NSI 35

JD17C38 AC MGA94_51 303288.337 6598535.472 381.554 NSI 30

JD17C39 AC MGA94_51 303312.844 6598535.114 381.315 NSI 35

JD17C40 AC MGA94_51 303336.797 6598534.3 381.217 NSI 30

JD17C41 AC MGA94_51 303360.57 6598535.169 380.97 NSI 35

JD17C42 AC MGA94_51 303385.938 6598535.559 380.878 NSI 30

JD17C43 AC MGA94_51 303410.249 6598535.687 380.664 NSI 30

JD17C44 AC MGA94_51 303412.639 6598487.469 380.961 10 20 10 2.80 30

JD17C45 AC MGA94_51 303384.99 6598488.488 381.035 11 20 9 1.45 30

JD17C46 AC MGA94_51 303136.324 6598487.83 382.687 17 20 3 5.97 30

JD17C47 AC MGA94_51 303114.266 6598488.283 382.658 NSI 30

JD17C48 AC MGA94_51 303109.092 6598430.265 383.505 9 19 10 2.45 30

JD17C49 AC MGA94_51 303136.364 6598429.414 383.373 9 21 12 2.42 30

JD17C50 AC MGA94_51 303235.318 6598433.842 382.648 6 21 15 1.61 30

JD17C52 AC MGA94_51 303383.132 6598437.149 381.883 8 21 13 2.35 30

JD17C53 AC MGA94_51 303412.56 6598435.484 381.997 10 15 5 1.77 30

JD17C54 AC MGA94_51 303410.089 6598384.278 382.951 6 21 15 1.28 30

JD17C55 AC MGA94_51 303386.93 6598382.453 382.829 15 17 2 1.59 30

JD17C56 RC MGA94_51 303260.794 6598382.631 382.703 11 21 10 2.01 30

JD17C57 RC MGA94_51 303236.344 6598383.244 382.91 9 18 9 1.98 30

JD17C58 RC MGA94_51 303128.982 6598385.376 384.309 7 16 9 1.35 30

JD17C59 RC MGA94_51 303108.282 6598384.764 384.292 9 18 9 1.4 30

JD17C60 AC MGA94_51 303439.123 6598484.137 380.888 14 16 2 0.76 30

JD17C61 AC MGA94_51 303461.133 6598483.299 380.805 NSI 30

JD17C62 RC MGA94_51 303433.75 6598533.923 380.617 NSI 30

JD17C63 RC MGA94_51 303468.642 6598536.959 380.455 NSI 30

JD17C64 RC MGA94_51 303496.172 6598529.278 380.353 NSI 30

JD17C65 RC MGA94_51 303085.435 6598384.936 384.292 11 21 10 1.62 30

JD17C66 RC MGA94_51 303062.636 6598383.796 384.243 9 21 12 1.83 30

JD17C67 RC MGA94_51 303084.875 6598426.846 383.644 8 24 16 3.81 30

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JD17A01 RC MGA94_51 302809.895 6598311.119 383.463 7 11 4 1.66 30

JD17A02 RC MGA94_51 302790.957 6598322.085 383.428 7 9 2 1.96 30

JD17A03 RC MGA94_51 302770.44 6598331.061 383.45 9 10 1 1.01 30

JD17A04 RC MGA94_51 302750.354 6598339.975 383.575 8 12 4 0.88 30

JD17A05 RC MGA94_51 302726.243 6598351.663 383.475 NSI 30

JD17A06 RC MGA94_51 302706.1 6598362.701 383.621 NSI 30

JD17B02 RC MGA94_51 302582.283 6598622.718 384.974 21 22 1 1.74 30

JD17B04 RC MGA94_51 302541.984 6598598.524 385.301 NSI 30

Table 2: Table of selected historical drill intercepts from the Jaurdi Gold Project

Hole_id Hole_Type MGA_Grid_ID MGA_East MGA_North MGA_RL From (m)

To (m)

Interval (m)

Au g/t Au

Depth (m)

JD09‐021 AC MGA94_51 302702 6598499 383 12 17 5 5.44 30

JD09‐029 RC MGA94_51 302724 6598411 383 12 16 4 5.18 28

JD09‐030 AC MGA94_51 302725 6598423 383 16 21 5 3.12 30

JD09‐031 RC MGA94_51 302722 6598432 383 11 20 9 4.73 30

JD09‐040 AC MGA94_51 302747 6598415 383 15 22 7 3.67 30

JD09‐044 AC MGA94_51 302747 6598479 383 19 21 2 24.4 30

CC0009 AC MGA94_51 303031 6598290 383 13 21 8 2.68 30

CC0028 AC MGA94_51 303120 6598300 383 13 24 11 2.6 30

CC0042 AC MGA94_51 303250 6598379 383 6 20 14 2.26 30

CC0048 AC MGA94_51 303251 6598431 383 9 21 12 2.4 30

For further information please contact: Geoff Greenhill Graham McGarry Executive Chairman Managing Director Beacon Minerals Limited Beacon Minerals Limited M: +61 (0) 419 991 713 M: +61 (0) 409 589 584

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Competent Persons Statement

The information in this report that relates to exploration results was authorised by Mr Darryl

Mapleson, a Principal Geologist and a full time employee of BM Geological Services, who are engaged

as consultant geologists to Beacon Minerals Limited.

Mr Mapleson is a Fellow of the Australian Institute of Mining and Metallurgy. Mr Mapleson has

sufficient experience which is relevant to the style of mineralisation and type of deposit under

consideration to act as a competent person as defined in the 2012 edition of the “Australasian Code

for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Mapleson consents to

the inclusion in the report of the matters based on his information in the form and context in which it

appears.

Disclaimer This ASX announcement (Announcement) has been prepared by Beacon Minerals Limited (“Beacon” or “the Company”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this Announcement. This Announcement contains summary information about Beacon, its subsidiaries and their activities which is current as at the date of this Announcement. The information in this Announcement is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Beacon. By its very nature exploration for minerals is a high risk business and is not suitable for certain investors. Beacon’s securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to Beacon and of a general nature which may affect the future operating and financial performance of Beacon and the value of an investment in Beacon including but not limited to economic conditions, stock market fluctuations, gold price movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel. Certain statements contained in this announcement, including information as to the future financial or operating performance of Beacon and its projects, are forward‐looking statements that:

may include, among other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions;

are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Beacon, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; and,

involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements.

Beacon disclaims any intent or obligation to update publicly any forward‐looking statements, whether as a result of new information, future events or results or otherwise. The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and similar expressions identify forward‐looking statements.

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All forward looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein. No verification: Although all reasonable care has been undertaken to ensure that the facts and opinions given in this Announcement are accurate, the information provided in this Announcement has not been independently verified.

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For personal use only - beaconminerals.com.au · BEACON MINERALS LIMITED ACN 119 611 559 Kalgoorlie...

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